The Sunday Oregonian. (Portland, Ore.) 1881-current, May 14, 1911, SECTION FOUR, Image 56

The Sunday Oregonian., May 14, 1911, SECTION FOUR, Page 12, Image 56

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Newspaper Page Text13 TIIF SUNDAY OREGONIAN. PORTLAND. MAT 14. 1911. APARTMENT-HOUSE ON SIXTEENTH; HOTEL ON MADISON STREET FINISHED James N. Deiendorf's Apartments Contain Only Outside Koonu Mrs. Rose- White's Hotel Has Stores on First Floor, Booms Above. . m o j. .'." Ill- H'&ki. fa 'late 8 11 S5J ' V 1 CiTijrOv Larg F At Mt. Tabor, in and Around Bmefin net Than Any Other Section in Portland That Means F: Air This is a highly restricted district on the sunny slope of Mt. Tabor, east and north of 55th and Hawthorne Ave. " May we show you this addition? Gli .apm fi'Meriow 332 Chamber of Commerce SjzjR.csc Whtte. Bxsil&jmg . TCE.Cq&mzzr. Si: cans? jccj JttrDifosc. "HE four-.tory hotel building erect I ed at the northeast corner of Bee- on a anil Madlcon atreeta for Mrs, Roa White, widow of Isam White, is boat completed. The lot la 45 by 100 feet and the flrat floor la divided into five atorvs. three fronttna: on Second street. The entrance to the hotel ia on Madlaon. The huildlna- Is of mill construction with' pressed brick exterior, and cost 143,000. The three upper floors contain 48 rooms, some being- arranged with private baths. Kmll Schacht A Son are the architects, The apartment house of James N. Desendorf, oa Sixteenth street between Salmon and Taylor, la flalshed. It la four etorlea high. 6i' by 100 feet. The building; contains 16 ' five-room a part -ments and there are two three-room apartments, besides the Jt.nltor's quart ters In the basement. The building- Is furnished with the uxual modern equip ment. Including; disappearing beds, dumb waiters, laundry, etc. There Is a stone entrance with marble vestibule. The entrance hall and stalra are of quarter aawed oalc. - Kvery room Is an exterior room. The building- was de signed by Clanssen & Claussen. archi tects, and cost $45,000. BANKS IS JUNCTION United Railways Extended to North Tualatin Town. TILLAMOOK LINE CROSSED Rapid Development of Country With Immediate Growth of Town Pre dictfd F.lcctrlc Addition Plat ted Half Mile From Banks. Wltb the, extension ct the United Hallways to Banks, a new subdivision known as Electric - Add'tion has been platted at the present terminus of the electric line and at the Junction of the United Railways and the Pacific Rail way 4k Navigation Company road. Tha electric line strikes Banks about a half- mile from the heart of the old town. It la expected that Banks will extend to the Junction of the two lines as the vaat timber, farming and agricultural country Is developed Banks Is now reached from Portland by - a direct route. ' The line was recently extended from North Plains an4 the distance from Portland Is given as ST miles. This nuts Banks only 14 miles from the deep-water terminal of tha Cnlted Railways at Burlington, where the products of the mill and for est shipped from the North Tuala tin and Dairy Creek valleys will find water transportation to any port on the civilized globe. Prevision has been made for future connections between the two roads and for a switch to the sawmill and other Industries now in operation. With the coming- of many new people to settle on the small farms In Dairy Creek Val ley It la predicted that Banks will grow to a considerable town In a very few years. Tha town of Banks Is sur rounded by beaverdara and rich bottom l.inds. The hillsides are famous for their fruits jkad vineyards. The princi pal induatriea of tha town are sawmills, a creamery end fruit evaporators backed by diversified farming, dairying, hop raising, gardening and fruit culture. The dairy business la capable of develop ment on a large scale. Electric Addition was platted to provide for the growth of Banks and the bualness that will de velop at tha Junction of tha two lines. Prom now on It Is believed that tha erawtJk of Banks will ba in proportion to the rapid development of the tur rounding country. The service of the United Railways to Banks at present Is four round trips dally. This gives the citizens and farm era an opportunity to visit Portland, transact business and return the same day. with time to- spare. - Products of farm, both large and small, will be hauled to the Junction of the two roads for shipment to Portland and other mar kets and electric transportation will serve to make the small farm equally as profitable aa larger ones. , ' North Plains, the new town , in the North Tualatin Valley, was the terminus of the United Railways- until the line was extended to Electric Addition. The citizens of Banka are wide awake and prosperous, and their Commercial Club Is already identified with the Oregon Development League. The town . has hotels and restaurants, banks, a news paper, several Industries, with others seklng- sites. A campaign of publicity Is to be undertaken In order to give Banks and this section of Oregon wide. spread publicity- during- the next-' 1 montns. . . SMALL FARMS SECURED SETTLERS BUT ACREAGE NEAR ' TOW JT OF CAXB V. About 1800 Acres Taken Over In Parcels by Newcomers Prom Many Eastern States. CANBT. Or May IS. (Special.) It ia estimated that 1800 acres in this vicinity have changed ownership since the first of the year. The land has been purchased largely by persons from the Middle states as well aa from, the inter-mountatn country, who have be come tired of the rigorous climate there. - Most of these people were led to this state through literature sent out by the Portland Commercial Club. Many have purchaaed land in tracta from five acres up to 40. and a few bought -heavier for speculation. A goodly number have already taken possession of their new - homes, while others have returned to the old home to close up their affairs and will return during the coming Summer. Those who bought for speculation invariably se lected the bottom lands along the Mo lalla River. Much of this wjs logged- off-land" and was sold much cheaper than the small tracts . closer In. the latter being- in an exceedingly high state of cultivation, and was but re cently placed upon the market. This Influx or newcomers means much for this "neck 'o the woods" as it haa brought a very desirable class of citizens to Clackamas County. It la the Intention -of the majority of . these home-makers to embark Into intensive farming on. various scales. MONEY TO REMAIN EASY SPEXCER TRASK & CO. FORESEE NO EARLY C1IAXGE. Financial- Conditions . Reviewed by Xcw. York Banking House. Bond Market Active. April financial conditions are re viewed by Spencer Trask a Co., New j York bankers, la their monthly letter io nutrea snore & Co., their local rep resentatives. The letter follows: NEW YORK, May 1. Ths bond section particularly of the security markets closed the month luet ended in a much mnrm cheerful- and hooeful mood. Thi, in ;uojmrm, im noi.Decauee there occurred In April, ujr cnang-e ol moment to ' produce a better feellns. or that any liu-ident nt stirring Import arose to trtle the market Into activity, but that the weight of ac cumulated "and accumulating surplus has at last told on tha banks and financial Insti tution, and forced them to put out their money wnwe-it - will earn a reasonable re turn. With trade In general on a receding scale, good commercial paper recently be came scarce, and with all but stagnation relsnlng In the stock market, banks found It unprofitable to. loan their funds In the hape of day-to-day money at the nrevaii. Ins low rates Thus the way was cleared for hort-term notea, which, besides .ntnvin a quick market, could be bought' to yield 50 per - cent more than good - commercial paper had been bringing, and 100 per cent mors han could be obtained on call loans. So. eager were the banks for these hm.i that it took only a comparatively short time after the movement had gained head way.' to absorb .the floating supply. Largely' though, that was ln consequence of the many new Issues which have been poured pes the market during the -whole of the present year. This demand has had the natural - result of - forcing prices.. ud to a point where the yield Is now In many cases none too generous, considering the security offered.' and It looks as If no further ad vanceof material proportions can be expect ed In- that quarter. This ia being better appreciated, and will In large measure ex plain why In the last few days Institutional buying of standard bonds, both railroad and muntclpaU .has become noticeable heavy, and has-begun to justify the forecasts we have made from time to time -In the past months that the time to buy bonds had ar rived. ' -with the surplus reserve of New York banks almost nine times that of last Tear. and the greatest but one in 13 years, money promises 10 ruie ror some time at a rate which will make the better class of bonds remunerative Investments', particularly since the present level of prices is low. In this connection the following statistics repre senting me composite price or ten hign-grsde raiiroao. oonaa win oe interesting; 1T-. For the week ending April 29........ 10O.S2 For the wee ending April 22 100 23 For the week ending April 15 loo For the week ending April 8......... 100.24 Average for April loo 2ft Average ior me montns or mil.... 100.44 Average for the year. 1010 10O.72 Average for S years, 1H0R1910. Inc.. 101 4rt Average for IS years, 18a8-iei0, inc. 10X61 It will be seen from the above that, speak ing brsadfcr. the average prloa larval baa W I a declining tendency for years past, with the significant exception that In the last week there was an appreciable advance. We might further point out that so far cni year the Pond business on the New York Stock Exchange has shown only a slight Increase over last year to be exact. f2h2.482.50O. against S27T.631.800 while the overturn for April ($55,042,500) waa consid erably leas than for March t71.090.OOO. This, however, may be partially accounted for by the Easter holiday: by the large trading in short-term notes, to which we have previously referred, but of which no actual records are kept, and by the heavy outpouring of new Issues, averaging for the last ten days about tlO.000,000 per day. That the market should have acted under the circumstances aa well aa It has. Is In our Judgment an Indication of underlying strength, snd of an absorptive power of no mean proportions, and. combined with the statistics which we have Just Riven confirms us In our belief that we are on the threshhold of a broad bond market. The Indications are" that business will- not show material Improvement for some time to come, and thua money promises to re main easy for an Indefinite period, ir good crops, favorable decisions by the 8upreme Court, and the normal needs of - a popula tion of 0O.O0O.000 should Improve trade con ditions more aulcklv than now appears likely, the money market should even then be only temporarily affected, as our cieavy exports, which It la estimated will be double those of the last fiscal year, are piling up a large credit balance abroad, upon which we could draw If necessity arose. Thus all the Indices point to an active bond market. In which the better grade of bonds promises to show the greatest ani mation in the immediate future. The forces which are on the constructive side of the bond market do not generally make for better stock markets, but In this Instance we should not be surprised to see a moderate improvement in those stocks whose margin of safety is sufficient to make present dividends reasonably safe, even through a further period of business lassi County and formerly proprietor of the old Hotel Waucoma of the city of Hood River, spent the first part of the week here making arrangements for the con struction of a three-story, 50-room ho tel. The new hostelry, the excavation work of which has begun, will be equipped with all modern conveniences. A steam-heating plant will be Installed and each room will be furnished with running hot and cold water. S. C. Wills who owns extensive tracts of land in the vicinity. Is developing a power site and will furnish the new hotel and tha town with electric lights. Acetylene torches for use In dense fogs have been supplied to the Paris police. Tract on Section Line Road Sold. A tract of 20 acres on the north side of the Section Line road, about one mile east of the Mount Tabor reservoir, has been sold by Jennie R. Smith to J. A. Curry and J. H. Haste, for $1300 an acre, making $26,000 in all. The new owners are hav-fng a survey made and will plat the tract into 60x100 f oot lots. The 20 acres will make about 120 lots, allowing for streets. The ru mored Intention of the street railway company to extend a line along the Section Line road has caused consider able development of acreage values in that vicinity. Cooks to Have New ITotel. COOKS, Wash., May 13. (Special). "Dad" Fouts, a pioneer of Hood River BEACH PE0PEETT AT Gearhart Park "BY-THE-SEA." Oregon's most popular, all-year-round resort will prove an excel lent investment. For informa tion regarding building sites over looking the Pacific Ocean, price of property and special induce ments to those who wish to build a home at the 'seaside, communi cate with , - Ruth Trust Company 235 Stark St., Corner Second. Week-end excursions to Qear hart. Trains leave North Bank depot. "Write for descriptive literature. A Business Proposition to the Business Men of Portland From a Business Corporation HOSIER VIEW The Largest Single Orchard Tract in the Mid-Columbia Section Twelve miles from Hood River, situated in the beautiful Hosier Hills, is now divided into five, ten and twenty-acre orchards. ' i One Hundred Thousand -DonaTs' Worth of This Property Sold To some of Portland's shrewdest investors, since opening day, April 16th, less than one month. .WHY? WHY? WHY? Ask the Man Who Bought! ' - " r We furnish YOU the best proven apple land in the world famous HOOD RIVER-M0SIER district. We plant the finest varieties of standard apple trees, conceded by the best known experts in the Hood River district to be the bestf stock ever used for the purpose. "We cultivate and bring it into bearing through a period of five years under the superintendency of the most expert developing organization in the business. . We sell it at a price and terms that enable you to acquire an orchard by -a small payment down and extremely small monthly payments, which can not seriously affect your needs from your present income, nor need' it inter fere with your business or profession. A savings bank that pays bountiful interest, providing you a safe, sure and permanent income from Hother Nature 's generous storehouse in a spot favored by the Creator to a greater degree than any other place on earth, in all the essential things which make happy homes in prosperous com munities; amidst scenes of indescribable grandeur. It is to our mutual interest to meet face to face, so call on us, or phone us, oi-v write us and arrange an interview. ' . HOOD RIVER ORCHARD LAND CO. (CAPITAL. $500,000) Phones: Main 1450, A 6598. 906, 907, 908, 909 Yebn Bldg. DEVLIN & FIREBAUGH, Selling Agents.